Would it surprise you to learn that Mr. Obama, the champion of taxing those evil rich people who make more than $200k for single filers, $250k joint filing, doesn’t lead by example?

The president and his wife, Michelle Obama, on Monday reported an adjusted gross income of $1,728,096 for 2010, down from $5.5 million in 2009. Most of their income came from sales of his books “Dreams From My Father” and “The Audacity of Hope.” The Obamas paid $453,770 in federal taxes, for an effective tax rate of just over 26 percent; the top individual tax rate is 35 percent.

The federal tax rate in 2000 for the top earners was 39.6%, and 2001 was 39.1%. 2002 was 38.6%, which is what Obama wants to roll the rates back to, though most on the $200/$250 tax bracket was 35%. Yet, he didn’t even pay that. Apparently, he takes advantage of all those evil tax deductions. I guess he doesn’t want to pay his “fair share.”

I will give him props for his charitable donations, though. $245k, much going to charities for the military families of those wounded or killed. Kudos, President Obama!

7 Responses to “Obama Refuses To Tax Himself At The Higher Rate”

The part that kills – KILLS me – is that the Obamas paid $453,770.00 in taxes and NO ONE is outraged by this. Even THEY should not have to pay this kind of money in taxes. Someone should be asking where the oh, 1-2 TRILLION dollars we gave last year in taxes went? Like, ALL of it? Where is it? GONE.

From the same article, “Gaffe-A-Minute” Joe Biden pays even less in taxes and doesn’t give nearly as much to charity:

Compared with the president, Mr. Biden is a pauper. He and his wife had an adjusted gross income of $379,178, most of it his salary. The Bidens paid $86,626 in federal taxes, for an effective tax rate of about 23 percent. They also paid $14,479 in income taxes to Delaware and $3,515 to Virginia, and contributed $5,350 to charity, counting money and in-kind donations.

“Do as I say, not as I do,” is alive and well in the Obama administration.

Even though I agree that the taxes Obama paid are higher than they should be, the fact of the matter is that he wants others to pay more. He can’t lead by example, and I won’t feel sorry as he feels the pinch in his wallet.

I saw some numbers elsewhere that showed when you tax the “rich” you only get an increase of 1 to 2% of the tax income. Yet the damage is done to the small businesses. This is just one more way to be devisive and not confront the problem of reduced spending.

$100,000 of his charitable donations from his $1M+ Nobel Peace Prize went to the Three Cups of Tea Charity which boasted of operating schools in Afghanistan – just this week reported to be mostly fraud.

LIVE TRAFFIC

YE OLDE ADVERTS

Categories

Calendar

Meta

SWAG

THE CODE

All posts here are my views. None represent my employer. If ye can prove me wrong, so be it. Ye can rant and rave at me, but be mostly polite to any other commentors. I will put up with quite a bit, but be mostly respectful to others.

NOTICE In accordance with Title 17 U.S.C., section 107, some material on this web site is provided without permission from the copyright owner, only for purposes of criticism, comment, news reporting, teaching, scholarship and research under the "fair use" provisions of federal copyright laws. These materials may not be distributed further, except for "fair use" non-profit educational purposes, without permission of the copyright owner.